PROSHARES ULTRAPRO QQQ (TQQQ) Technical Analysis
NASDAQ:TQQQ • US74347X8314
Overall TQQQ gets a technical rating of 3 out of 10. Although TQQQ is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- In the last month TQQQ has a been trading in the 45.50 - 51.96 range, which is quite wide. It is currently trading near the lows of this range.
- TQQQ has an average volume of 100966000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
- When comparing the yearly performance of all stocks, we notice that TQQQ is one of the better performing stocks in the market, outperforming 81% of all stocks. However, we also see that TQQQ couldn't keep up this performance in the last couple of months.
- TQQQ is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so TQQQ is lagging the market slightly.
Although the technical rating is bad, TQQQ does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 48.59. Right above this resistance zone may be a good entry point.
More info and screens
45.46
We found 1 important support area.
- A support zone ranging from 45.92 to 45.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
4 important resistance areas can be observed.
- A resistance zone ranging from 48.59 to 49.04. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 51.64 to 51.88. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @55.41 from a trend line in the daily time frame.
- Resistance @56.65 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for TQQQ is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TQQQ is down. |
| ChartMill Relative Strength | 81.23 | POSITIVE | TQQQ has a high relative strength, it outperformed 81.23% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of TQQQ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of TQQQ is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of TQQQ is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 38.51 | NEUTRAL | The RSI value for TQQQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests TQQQ has a negative trend. |
| Stochastics (14,3) | 28.95 | NEUTRAL | The Stochastics value for TQQQ is a neutral value. |
| Average True Range in percent/ATR (20) | 5.53 | HIGH VOLATILITY | The high ATR as a percentage value for TQQQ suggests high volalility. |
| Average Directional Index/ADX (14) | 23.06 | NEUTRAL | The ADX value for TQQQ suggests a possible start of a new trend. |
TQQQ Technicals: Chart, Performance Metrics, Trend & Indicators
45.93
-0.9 (-1.92%)
PROSHARES ULTRAPRO QQQ / TQQQ FAQ
What is the technical rating for TQQQ stock?
ChartMill assigns a technical rating of 3 / 10 to TQQQ.
What is the trend direction for TQQQ stock?
The current trend direction for PROSHARES ULTRAPRO QQQ (TQQQ) is Bearish.
What is the RSI signal for PROSHARES ULTRAPRO QQQ (TQQQ) stock?
PROSHARES ULTRAPRO QQQ (TQQQ) has an RSI value of 38.5148. This indicates that the stock is currently neutral.
What is the MACD signal for TQQQ stock?
The MACD indicator for PROSHARES ULTRAPRO QQQ (TQQQ) has a value of -0.158137, indicating a bearish trend.
What is the support and resistance level for TQQQ stock?
PROSHARES ULTRAPRO QQQ (TQQQ) has a support level at 45.92 and a resistance level at 48.59. Check the full technical report for our detailed analysis of TQQQ support and resistance levels.